ASX Profits Have Recovered From A Sluggish Year Of Trading

The Australian Securities Exchange’s full-year profit rose 2.7% to $348.2 million despite a painfully quiet first six months of trading.

The market was pretty quiet throughout the 2012 calendar year, but picked up as global economic conditions improved.

ASX profit fell 3.7% to $339.2 million in the 2011-12 financial year.

“The global economy was generally more stable during the 2013 financial year,” ASX CEO Elmer Funke Kupper said today. “This flowed through to improving activity levels in Australia’s financial markets as the year progressed.

“In the first six months of the year, activity levels remained subdued and, as a result, first half underlying earnings were down 5.3% on the previous year. Market conditions improved over the next six months and second half underlying earnings were up 7.0%.”

From the ASX’s investor presentation today, here’s how trading volumes have tracked in the five years after the GFC.

The ASX said it accounted for 94.6% of on-market share trading, which means rival Chi-X has taken over 5.4% of volume.

The 2012 calendar year was particularly quiet for IPOs as well, but activity has picked up with 13 new listings so far, this financial year.

Today’s result was in line with analyst expectations. ASX shares fell 1.32% to $35.15 by 11am.

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